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It's not just those without solar panels who can benefit. Households with solar panels already installed can use the system to see how they perform against their use of energy.

This could result in residents using their solar power more effectively, reducing demand and looking at complementary technologies such as energy storage.

The technology is composed of three parts, a monitor that clips around your mains cable and measures home electricity usage, a smart meter measuring real solar generation from a site in the neighbourhood, and a web app which links the two and crunches the numbers.

The company is optimistic it can use the technology to prove the business case for solar and disprove any misconceptions.

It will be piloted around Bristol next year with the aim of being widely available by the end of 2015.

The final product will probably be free to the end user. That means the solar industry could pay, as a way to encourage people to sign up.

Damon Rand, 39, co-founder and director at the firm, said: "With this grant we are now able to rapidly progress development of technology that supports the growing solar PV industry and help householders and housing managers to make informed and confident investment decisions in this alternative energy technology.

"Being based in Bristol, a city with many world-leading low-carbon and high-tech companies, this recognition of our work by the West of England LEP is a welcome accolade."

The £99,500 grant has been awarded from the Regional Growth Fund administered by the West of England Local Enterprise Partnership as a way of kick starting projects and creating or safeguarding jobs.

Karl Williams, project manager at the LEP, said: "It's great that we've been able to award this money to Clean Energy Prospector, which is one of a number of businesses playing an important role in our growing low carbon sector, a sector we've identified as a key area of economic growth for the West of England."

● A third round of the Growth Fund is open for businesses to apply for and the closing date for applications is September 8, 2014.

For details of the fund, including how to apply, go to www.westofenglandlep.co.uk/ wegfr3. Businesses can also email the funding team on growthfundapps@westofengland.org or call on 0117 903 6207.